Hello Traders,
As promised, a different chart everyday!
Today’s chart will be on AIONBTC, a potential 246% bounce from major support!
Points to consider
- Testing major support
- Stoch’s showing upwards momentum
- RSI bouncing of support
- Potential bullish Divergence
- EMA’s acting as resistance
- High Volume spikes
- VPVR showing low volume of transaction after first resistance
- .50 Fibonacci is a potential resistance area
AIONBTC is worth watching as it has a high degree of probability to bounce from current support and retest resistances that where previous support, (S/R flip Retest). Price is currently testing major support, bulls need to show up otherwise we can witness major capitulation for this ALT coin.
RSI has established a well uptrend, confirming a potential bullish divergence with price putting in Lower Highs. We also need to consider the EMA’s, which is currently giving price resistance, bulls need to show strength for EMA’s to turn bullish which is highly probable from this support zone. Overall the volume has increased, proving the significance of this zone, price could rally to second resistance zone, the .50 Fibonacci zone, posting a 246% gain!
What are your thoughts? Will we see a bounce or head further down and capitulate?
Please leave a like and comment
And remember,
“Trade the market in front of you, not the one you want!” – Scott Redler
As promised, a different chart everyday!
Today’s chart will be on AIONBTC, a potential 246% bounce from major support!
Points to consider
- Testing major support
- Stoch’s showing upwards momentum
- RSI bouncing of support
- Potential bullish Divergence
- EMA’s acting as resistance
- High Volume spikes
- VPVR showing low volume of transaction after first resistance
- .50 Fibonacci is a potential resistance area
AIONBTC is worth watching as it has a high degree of probability to bounce from current support and retest resistances that where previous support, (S/R flip Retest). Price is currently testing major support, bulls need to show up otherwise we can witness major capitulation for this ALT coin.
RSI has established a well uptrend, confirming a potential bullish divergence with price putting in Lower Highs. We also need to consider the EMA’s, which is currently giving price resistance, bulls need to show strength for EMA’s to turn bullish which is highly probable from this support zone. Overall the volume has increased, proving the significance of this zone, price could rally to second resistance zone, the .50 Fibonacci zone, posting a 246% gain!
What are your thoughts? Will we see a bounce or head further down and capitulate?
Please leave a like and comment
And remember,
“Trade the market in front of you, not the one you want!” – Scott Redler